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Innogy receives final approval to acquire 2-GW onshore wind pipeline

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Innogy receives final approval to acquire 2-GW onshore wind pipeline

Germany-based Innogy SE has closed its previously-announced deal to acquire an American onshore wind project pipeline of more than 2,000 MW.

The Committee on Foreign Investment in the United States gave Innogy the green light to purchase EverPower Wind Holdings Inc.'s U.S. onshore wind business for an undisclosed amount, the company said in a July 26 news release. The federal approval also means the German energy developer will acquire more than 20 onshore wind projects in various stages of development in eight states, pending permission from state authorities.

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"With the acquisition of EverPower's excellent onshore wind pipeline, we have established innogy as a relevant renewables player in the U.S. market, one of our key strategic growth areas," Hans Bünting, Innogy's COO of renewables, said in a statement. "Our strengthened team will now focus on execution of our first U.S. wind projects."

Innogy announced the deal on Dec. 22, 2017, making it the company's first expansion move since creating U.S. subsidiary innogy Renewables in 2016.

The acquired wind energy facilities are located in Maine, Maryland, Montana, New York, Ohio, Pennsylvania, Washington and Wyoming. Three of the projects are in late stages of development: Baron Winds Project, Cassadaga Wind Farm and Amazon Wind Farm US Central 2 (Scioto Ridge Wind Farm) (Hardin). The Scioto Ridge Wind Farm is scheduled to start construction in early 2019 and the three projects are slated to be online before the end of 2020.

An Innogy spokesperson declined to disclose the remaining projects being acquired at the time of publication.